Bukalapak an online marketplace company from Indonesia will soon announce a new round of funding according to reports Naver Corp is said to be one of the investors as well as Ant Financial which is the finance arm of Alibaba Ant Financial already holds a minority stake in Bukalapak so the new round will be in addition to whats already been given Bukalapak when contacted said it planned to issue a press release soon Bukalapaks biggest shareholder is Indonesian media company Emtek which had a 3686 percent stake in the company in September of 2018 The two companies also develop technology together including a payments platform called DANA which Bukalapak uses Bukalapak has been branching out more into financial services areas like loans credit insurance and mutual fund and gold investments The company also plans to expand with more investment products as well as in areas like P2P lending and remittance payments In addition the company has started working with traditional mom-and-pop type stores in Indonesia approximately 300 000 to act as a go-between with the company and then charging a commission It will also use IDR 1 billion 71 000 to start a partner program called Bukalapaks Partners The last time the company raised money was at the end of 2017 when it got an undisclosed amount of money from Singapore sovereign wealth fund GIC Bukalapak in that round was valued at more than 1 billion As the company recently celebrated its ninth anniversary Founder and CEO Achmad Zaky said innovation is the key to driving the business forward Investor Naver Corp is also behind messaging outfit LINE That AI software platform was developed with Naver Corp which also runs a search engine While LINE is mainly a messaging app customers use it to read the news get taxi rides and find part-time work LATEST INSIGHTS Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation thats reshaping the payments and commerce ecosystem Check out the latest PYMNTS Digital Drive Report Ant Financial funding Indonesia investments News online marketplace Venture Capital Whats Hot